Superannuation rates and thresholds for 2018 financial year

The ATO has released the key superannuation rates and thresholds for 2018-19.  The rates apply to contributions and benefits, employment termination payments, super guarantee and co-contributions and include the following:

1.  Concessional contributions cap

From 1 July 2017  the general contributions cap is $25,000 and is indexed in line with average weekly ordinary time earnings (AWOTE), in increments of $2,500 (rounded down).  From the 2017-18 financial year, the general concessional contributions cap is not calculated based on age.

 

2.  Non-concessional contributions cap

The non-concessional contributions cap is $100,000.

People aged under 65 years may be able to make non-concessional contributions of up to 3 times of the annual non-concessional contributions cap over a three-year period.  This is known as the “bring forward” option.